HG Vora Capital Management LLC Makes New Investment in UGI Corporation $UGI

Key Points

• HG Vora Capital Management LLC acquired 1,000,000 shares of UGI Corporation for approximately $33,070,000, making it the 11th largest position in their portfolio.
• UGI Corporation is set to pay a quarterly dividend of $0.375 on October 1st, with a current annualized dividend yield of 4.4%.
• Recent analysts' ratings indicate a consensus of "Moderate Buy" for UGI, with the price target raised to $39.00 by Mizuho.

HG Vora Capital Management LLC acquired a new position in shares of UGI Corporation (NYSE:UGI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 1,000,000 shares of the utilities provider's stock, valued at approximately $33,070,000. UGI comprises approximately 3.4% of HG Vora Capital Management LLC's investment portfolio, making the stock its 11th largest position. HG Vora Capital Management LLC owned about 0.47% of UGI at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CX Institutional purchased a new position in shares of UGI in the 1st quarter valued at $30,000. Private Trust Co. NA boosted its stake in UGI by 36.1% in the first quarter. Private Trust Co. NA now owns 1,395 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 370 shares in the last quarter. Quarry LP purchased a new position in shares of UGI during the first quarter worth about $51,000. Quintet Private Bank Europe S.A. increased its position in shares of UGI by 25.3% during the first quarter. Quintet Private Bank Europe S.A. now owns 1,880 shares of the utilities provider's stock worth $62,000 after purchasing an additional 380 shares in the last quarter. Finally, SouthState Corp acquired a new stake in shares of UGI during the first quarter worth about $62,000. Hedge funds and other institutional investors own 82.34% of the company's stock.

UGI Price Performance

Shares of UGI stock traded up $0.15 during trading on Friday, reaching $34.57. The company's stock had a trading volume of 1,911,912 shares, compared to its average volume of 1,697,424. The business has a 50 day moving average price of $35.48 and a 200-day moving average price of $34.46. UGI Corporation has a 12-month low of $23.14 and a 12-month high of $37.42. The company has a market capitalization of $7.43 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.16.

UGI (NYSE:UGI - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.11. UGI had a return on equity of 15.73% and a net margin of 5.70%.The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.06 earnings per share. UGI's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that UGI Corporation will post 3.02 EPS for the current year.

UGI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.50 dividend on an annualized basis and a yield of 4.3%. UGI's payout ratio is currently 78.95%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of UGI from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Mizuho lifted their price objective on shares of UGI from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Zacks Research upgraded shares of UGI to a "hold" rating in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, UGI presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.33.

UGI Profile

UGI Corporation, together with its subsidiaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.